Mirbeau recapitalizes for expansion

SARATOGA SPRINGS, New York – The Mirbeau Companies, developers and managers of European-inspired boutique hotel and spa resorts, have announced growth plans propelled by strategic capital partner ERP Properties with a new property in Beacon, New York, set for a Spring 2026 opening.

Last year, EPR Properties provided $77 million in convertible mortgage financing to recapitalize Mirbeau’s existing portfolio as well as over $47 million of forward funding commitments to finance the brand’s expansion regionally and nationally.

The newest acquisition of the Mirbeau brand aided by that investment will be Mirbeau Inn & Spa Beacon on the historic Howland estate along the Hudson River and directly across from Newburgh, New York.

While there is no set growth timetable, Mirbeau leadership said it has other sites under consideration.

The Mirbeau Companies, based in Saratoga Springs, New York, is a family-run organization, whose fxecutives include Founders and Principals Gary and Linda Dower; their sons, Chief Executive Officer Michael Dal Pos and General Counsel Jonathan Dal Pos; and daughter, Director of Spa Operations Catherine Sinclair.

“We expect to add another two to three Mirbeau Inn & Spas within the next five years, but currently, Mirbeau Inn & Spa Beacon is by far our largest and most historically significant property to date,” Jonathan Dal Pos said. “Its legacy is rooted in the Howland family’s cultural contributions to Beacon, including the commission of renowned architects Frederick Clarke Withers and Richard Morris Hunt to design the Mansion. After 20 years uninhabited, the public is eagerly anticipating our revival of this iconic estate.”

Rendering of the Mirbeau spa resort planned for Beacon, New York

Family-owned and operated for 25 years, Mirbeau properties already in the portfolio include Mirbeau Inn & Spas in Skaneateles, New York, Plymouth, Massachussets, and Rhinebeck, New York. The first Spa Mirbeau, a day resort concept offering the amenities of a full resort experience to regional customers, opened in the fall of 2017 in Albany, New York.

Growth platform

As the company has refined its properties, offerings, and overall wellness brand, The Mirbeau Companies said it has achieved meaningful revenue growth in recent years, averaging 31% since 2021.

“What sets us apart is that our guests engage with the full Mirbeau experience. This results in our exceptionally high total gross revenue per room night from combined lodging, spa, and dining operations driven by both tourists and local day spa guests.” Michael Dal Pos said.

Along with strong spa retail sales from Mirbeau branded products, the spa operations generate gross profit margins that they say far exceed spa industry averages.

Through pricing that reflects the elevated quality of the Spa Mirbeau experience — which includes amenities well beyond those of the typical day spa — each location has effectively integrated into its local community and dominated the regional market. This approach drives strong, year-round operating cash flow with 75% of food and beverage revenues and 65% of spa revenues generated by local guests.

“The success of our branded retail products and consistently strong gift card sales underscores just how deeply the Mirbeau brand has become part of our guests’ lifestyle,” added Michael Dal Pos. “It speaks to the trust we’ve earned as a leader in spa and wellness, and to our ability to meet the needs of our guests not only at our resorts but at home in their daily lives.”